The Bank of England will have a majority of women on its board as the U.K. Treasury said it’s named OECD chief economist Clare Lombardelli to be the next deputy governor of the Bank of England.
Lombardelli will replace Ben Broadbent, who’s served two five-year terms at the central bank, and will take up her five-year role starting in July.
Other central banks have been led by women, including current European Central Bank President Christine Lagarde, and former U.S. Federal Reserve Chair Janet Yellen, who’s now secretary of the Treasury.
Lombardelli will be overseeing the formulation and implementation of U.K. monetary policy and will lead the bank’s research, data and analytics. She in particular will be responsible for acting upon the recommendations of the forecasting review being led by former U.S. Federal Reserve Chair Ben Bernanke.
Besides her OECD role, Lombardelli also was a chief economic advisor to the U.K. Treasury.
A House of Lords report in November pointed out the monetary policy committee is dominated by people who also worked at the U.K. Treasury, casting a shadow over the independence of the central bank.
